Rice price high despite adequate import

By

13th-Nov-2017

Share

Comments

Anisul Islam Noor :The consumers are hardly getting any relief in rice price though import increased all-time high in the country and notable fall of import cost. Food Ministry and Bangladesh Bank data as per, rice import by the private sector increased to 1.04 million tonnes just in four months of the current fiscal.A rice importer said, the private sector could import around 1.5 million tonnes of rice if the price remains stable in India and other Asian rice exporting countries throughout the current fiscal year.He said import cost of Swarna was US$ 418-$ 430 a tonne including two per cent import duty at the end of October.The food ministry data showed that rice import price from key global sources might be between $372 and $ 405 a tonne in November.The total import cost of Swarna is now Tk 36-Tk 36.5 a kg inclusive of all costs. The cost was Tk 45-Tk 46 in August-September last.He said Indian Ratna (Brridhan-28 produced by Indian farmers) rice is imported at Tk 40-Tk 41 a kg which was Tk 49-Tk 50 a kg in August-September.The wholesalers and retailers are making undue profits as most of the rice varieties particularly the coarse, are still selling at a very higher rate.A substantial gap exists between the importers' cost the retailers' level, particularly in the case of coarse varieties, market watchers said.Import cost of Swarna, a coarse and popular variety, is now Tk 36.0 to Tk 36.5 a kilogramme (kg). The cost is inclusive of 2.0 per cent import duty and expenditure on transportation. The importers are marketing the variety at Tk 37-Tk 38 a kg. But Swarna is being traded at Tk 44-Tk 46 at the wholesale level and at Tk 46-Tk 52 a kg at the retailers' level, according to trading sources.Similarly, importers are selling another medium variety of rice, called, Ratna (the variety known as Birridhan-28 in Bangladesh), and imported from India, to wholesalers of Dhaka and others areas of the country at Tk 42-Tk 43 a kg. But the same is being sold at Tk 50-Tk 52 a kg at wholesale and at Tk 54 and Tk 58 at the retail level.Rice price declined to some extent in October following higher imports, but the same are still maintaining a very high level. The price of coarse rice was Tk 33-Tk 35 per kg in January this year, TCB data showed.Consumers Association of Bangladesh (CAB) Secretary Humayun Kabir Bhuiyan said price difference between import level and retails is 34-35 per cent for coarse rice.

News Archive

Inside The New Nation

Adult film star-turned-Bollywood actor Sunny Leone, who is often a target of sexist and disparaging remarks by people, says she is disturbed when "nonsense" gets highlighted."I always try to push negativity aside, but there are some things which I can't because I am also a human and I have feelings."I ...

AP, Australia :Australia trounced India by 146 runs in the second Test to level the four-Test series 1-1 on the final day on Tuesday.Needing 287 runs to win, India resumed the day on 112-5 and was all out in a hurry for 140 in the second innings, and Australia was ...

AP, St. Petersburg :The women's tennis tour approved rule changes Monday that are meant to ensure players are not penalized after they return from pregnancy or an injury that causes a long absence.The changes were prompted, in part, by the experiences of former No. 1 players Serena Williams and Victoria ...

NEW United States ambassador in Dhaka Robert Earl Miller said that his country expected the upcoming December 30 elections in Bangladesh to be free, fair and credible as he paid a courtesy call on Prime Minister Sheikh Hasina. The US Ambassador informed the PM that his country would send 32 ...

CNN, Washington :Washington (CNN)Former FBI Director James Comey slammed Republicans on Monday for not speaking out against President Donald Trump's attacks on the FBI and strongly defended the agency's conduct, following his second round of questioning at a closed-door congressional interview."Somebody has to stand up and speak for the FBI," ...

Entertainment Report : In the beginning of current year popular singer Ankhi Alamgir performed in Utsab at Jodhpur Park in Kolkata. In the meantime, she also went to Kolkata for several times. On
December 14, she got the opportunity to perform as a leading singer of
Bangladesh at outdoor pool ...

Mustafizur Rahman has made a big leap to enter into the top five ranks of ICC ODI bowling rankings. Other Bangladeshi players have also made progress in the rankings after the end of Bangladesh-Windies ODIs.The Fizz moved five places to no.5 in the rankings. He has career-best 695 points against ...

MALAYSIAN Prime Minister Mahathir Mohamad on Sunday asked the ASEAN nations to take tough measures for creating pressure on Myanmar and its de facto leader Aung San Suu Kyi to end atrocities against the Rohingya Muslims. More than 720,000 Rohingyas have fled Myanmar's strife-torn Rakhine State to Bangladesh since August ...

AP, Srinagar :Soldiers and police fanned out across Indian-controlled Kashmir on Monday to enforce a security lockdown for a second straight day to stop anti-India protests and foil a call by separatists for a march toward India's main military garrison in the disputed region.Government forces patrolled streets in the region's ...

AP, New Zealand :Tim Southee took 5-67 as New Zealand exploited an influential toss to contain Sri Lanka to 275-9 Saturday on the first day of the first cricket Test at the Basin Reserve.A late unbeaten half century by wicketkeeper Niroshan Dickwella helped swing the day a little in Sri ...